Business

Pedestrians pass a JPMorgan Chase & Co. bank branch near the New York Stock Exchange in 2018. Bloomberg | Bloomberg | Getty Images JPMorgan Chase says it has closed more small business relief loans than any other bank, but it still has a huge mountain of applications from business owners who are now in limbo. 

Foreign workers are seen outside their dormitory room at Cochrane Lodge I, which was declared as an isolation area on April 16, 2020 in Singapore. Singapore government reported a record of 447 new coronavirus (COVID-19) cases on April 15, 404 of which are cases linked to the foreign worker dormitories, bringing the country’s total to

andresr/Getty Images This week was supposed to include Tax Day, when personal income taxes are traditionally due. Instead, it marked a different big milestone: the beginning of the coronavirus stimulus payments. Now, Congress has updated its timeline on when subsequent rounds of payments can be expected. Here’s the latest, according to the House Ways and

Jim Hackett of Ford Motor speaks at an event during the 2018 North American International Auto Show (NAIAS) in Detroit, Michigan, U.S., on Jan. 14, 2018. Andrew Harrer | Bloomberg | Getty Images Ford Motor shares dropped about 5% after the automaker warned that the coronavirus has significantly impacted its first-quarter performance, including a 15.7% drop

Scientist Xinhua Yan works in the lab at Moderna in Cambridge, MA on Feb. 28, 2020. Moderna has developed the first experimental coronavirus medicine, but an approved treatment is more than a year away. David L. Ryan | Boston Globe | Getty Images Biotech stocks surged Friday after new details on a closely watched clinical

David Brumfield, aka Lagoona Bloo, is a full-time drag queen in New York City. Before he discovered drag, David paid his bills as an actor, and supplemented his income as a waiter and a nanny. Before Covid-19, Lagoona was a steady host and headliner at some of NYC’s top gay bars. Lagoona is eager to

Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., March 2, 2020. Brendan McDermid | Reuters 7:55 am: Dow futures point to 700-point gain, S&P 500 set for 2.5% jump at open Futures contracts tied to the major U.S. stock indexes pointed to strong gains at the opening

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. This blog will be updated throughout the day as the news breaks. Global cases: At least 2,152,647.  Global deaths: At least 143,802.  Most cases reported: United States (667,801), Spain (184,948), Italy (168,941), France (147,091), and Germany (137,698).  The data above was compiled by Johns Hopkins

skynesher | E+ | Getty Images Wondering where your coronavirus stimulus payment is? The delay could be due to a glitch related to your tax preparation service. A new report from The Washington Post on Thursday estimates that millions of Americans could still be waiting to see their stimulus money if they previously filed their

CEO of Morgan Stanley James Gorman speaks on May 6, 2014 in New York. Getty Images Morgan Stanley on Thursday posted first-quarter profit that missed analysts’ expectations, but the firm’s trading desks generated about $700 million more revenue than e.  Here’s how the company did: Earnings: $1.01 a share Revenue: $9.49 billion Wealth management: $4.04 billion

Franklin Delano Roosevelt Memorial, Bronze statues that depict the Great Depression, Waiting in a bread line by George Segal, Washington D.C, United States. UniversalImagesGroup | Getty Images The global economy will this year likely suffer the worst financial crisis since the Great Depression, the International Monetary Fund said Tuesday, as governments worldwide grapple with the

The Covid-19 pandemic has nearly instantly and very dramatically pivoted the priorities of some makers, start-up founders, entrepreneurs, researchers and doers — the innovators — to solving problems related to the pandemic and preparing for any in the future. “Every [tech] entrepreneur that I know is spending time on the pandemic response,” CEO of global start-up accelerator

A man walks by the NYSE as flags fly at full staff on April 09, 2020 in New York City. Kena Betancur | Getty Images This is a live blog. Check back for updates. 7:59 am: Airlines jump after reaching aid agreement with Treasury Department Shares of major airline companies surged in premarket trading on Wednesday

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Beijing time. This blog will be updated throughout the day as the news breaks. Global cases: More than 1.97 million Global deaths: At least 125,678 Most cases reported: United States (602,989), Spain (172,541), Italy (162,488), France (131,361),

urfinguss | Getty Images A fight could be brewing over your coronavirus stimulus check. Your opponent could be your very own bank. If you have outstanding debts, your stimulus payments could be reduced or taken by creditors or debt collectors, in what 25 state attorneys general called a “legislative oversight” in a letter sent to

Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images JPMorgan Chase is scheduled to report first-quarter earnings before the opening bell Tuesday. Here’s what Wall Street expects: Earnings: $1.84 per share, a 31% decline from a year earlier, according to Refinitiv. Revenue: $29.67 billion, a 0.6% decline

JPMorgan kicks off earnings season on Tuesday. The bad news: Short-term guidance will be very ugly.   But there’s some good news:  1) The Securities and Exchange Commission has told corporations that this earnings season is not routine and has encouraged companies to provide forward-looking guidance, and not be concerned that the information may change rapidly.

[The stream is slated to start at 3:00 p.m. ET. Please refresh the page if you do not see a player above at that time.] New Jersey Gov. Phil Murphy is holding his daily press conference on the Covid-19 outbreak, which has infected more than 61,800 people in the state as of Monday. On Saturday,

Silhouette of Permian Basin pumpjacks taken at dusk, north of Midland, Texas, U.S. in late 2019. Richard Eden | via Getty Images Oil prices moved lower in overnight trading after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that

This is a live blog. Please check back for updates. Global cases: At least 1,846,680.  Global deaths: At least 114,090. Most cases reported: United States (555,313), Spain (166,831), Italy (156,363), France (133,670), Germany (127,854).  The data above was compiled by Johns Hopkins University as of 8:05 a.m. Beijing time.  All times below are in Beijing time. 8:45

Unemployment applications are seen as City of Hialeah employees hand them out to people in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. (Photo by Joe Raedle/Getty Images) Joe Raedle Americans are applying for unemployment in record numbers as the coronavirus pandemic has effectively shuttered much of the U.S.

A take-out order from a Darden Restaurants Inc. Olive Garden. Daniel Acker | Bloomberg | Getty Images Darden Restaurants on Thursday reported quarterly earnings and revenue that topped analysts’ expectations. Shares of the company rose 5% in premarket trading. Darden also withdrew its fiscal 2020 outlook and suspended its quarterly dividend, citing the uncertainty it faces as states mandate

James Gorman, chief executive officer of Morgan Stanley Qilai Shen | Bloomberg | Getty Images Morgan Stanley CEO James Gorman fell ill with the coronavirus about three weeks ago and has since recovered and been cleared by physicians, according to a company spokesman. The executive remained in charge of Morgan Stanley the entire time he

“When we got the order we were non-essential, that was the day we cleared house,” said Suzanna Cameron, 30, the owner of Stems, a flower shop in Brooklyn, New York. After her store was forced to close in response to the coronavirus pandemic, the single mom said she tried to pivot with virtual flower arranging

A sign is posted outside of the PayPal headquarters in San Jose, California. Justin Sullivan | Getty Images After weeks of lobbying, fintech companies are officially allowed to take part in the U.S. government’s emergency lending program.  PayPal and Intuit QuickBooks announced Friday evening that they were approved by the Small Business Administration to take

Police officers check vehicles at a roadblock on day five of the movement control order amid the COVID-19 outbreak in Kuala Lumpur, Malaysia on March 22, 2020. Mohd Daud | NurPhoto | Getty Images This is a live blog. Please check back for updates. Global cases: More than 1,691,700 Global deaths: At least 102,525 Most

Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.

Starbucks on Wednesday announced that it expects fiscal second-quarter adjusted earnings of 32 cents per share. The company’s stock fell less than 1% in extended trading. The global coffee chain also withdrew its outlook for fiscal 2020. Its fiscal 2020 revenue was expected to rise between 6% and 8% and global same-store sales growth was forecast

CNBC’s Jim Cramer on Thursday praised the Federal Reserve‘s latest moves to help keep afloat a U.S. economy that’s been battered by the coronavirus pandemic. Before the stock market opened, the Federal unveiled details of its much-anticipated Main Street lending program and other initiatives, a total of $2.3 trillion in loans to help businesses and municipalities.

Stock futures moved lower in overnight trading, pointing to losses at the open on Thursday. The move pointed to a loss of 50 points, or 0.2%, for the Dow, with the S&P 500 and Nasdaq-100 slated to open 0.3% and 0.6% lower, respectively.  Stocks surged on Wednesday, with the major averages spending the entire session